IMF Disburses US$23.4M to Liberia

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First installment of approved US$ 213.6 million

The International Monetary Fund has disbursed to the Government of Liberia US$23.4 million, representing the first tranche of the Fund’s support which was agreed with Liberia earlier this month under an IMF External Credit Facility, the Ministry of Information, Cultural Affairs and Tourism (MICAT) has announced.

According to the MICAT release, the payment, which has since been received by the government, demonstrates that Liberia has met prerequisite triggers and benchmarks, and is on course to meeting other conditions upon which further disbursements are based.

It can be recalled that on December 11, IMF’s Executive Board announced the approval of a four-year arrangement under the ECF for Liberia in an amount equivalent to US$213.6 million, which the IMF said is intended to “help the country restore macroeconomic stability, provide a foundation for sustainable growth, and address weaknesses in governance”.

At the time of the approval, the IMF Board praised ongoing reform policies of the Weah-led government.

Finance Minister Samuel Tweah has welcomed the latest development and assured that the government will continue exerting every effort to ensure that it meets all the stipulations of the program in an effort to revive the country’s ailing economy.

Author

  • Anthony Kokoi is a young Liberian sports writer who has an ever-growing passion for the development of the game of football (soccer) and other sports. For the past few years, he has been passionately engaged in reporting the developments of the game in the country. He is an associate member of the Sports Writers Association of Liberia (SWAL). He is a promoter of young talents. He also writes match reports and makes an analysis of Liberian Football.

2 COMMENTS

  1. All of which should be injected plus escorted to vaults, coffers, and CBL for the Liberian economy only in Liberian monies,*currency*. That is; approximately 200+ X 213.6 M = 4.3B -lrd, if R,. or = 200 and 2.16 EQUAL 1. Wages and salaries to handle the process be paid in Liberian dollars only. Liberian dollars placed in vaults for Liberian economy while U.S. dollars as quick as possible be returned to the U.S. for American people, after exchange and/or printing process.
    Calculate for yourself. Tell the Liberian people your own. Do not tell me. Gone in silence.

  2. Bravo! Another round of IMF largesse has poured in for Weah and his cartel to bathe in. What is so nice about the Weah’s camp is he has Tweah, the so-called minister of finance, who has already geared up the machination for how the money will be expended. So, he has nothing to worry about.

    Now, Weah can travel more with large delegates not even on a weekly basis anymore but on a daily one; if the private jet has not been fully paid for, and if he still has more mansions to build, then this is the perfect opportunity to pay the jet off and build more palaces. After all, in his world, being a president of Liberia means the nation’s resources are his, and he can spend them as he wishes; more still, as the president he is not subject to transparency neither accountability.

    In Weah’s world, to hell with the stupid Liberian people. After all, they owe tons of gratitude to him as a soccer star. His celebrity status alone is all they need. His celebrity status is above all national concerns, which includes food on the average Liberian family table, health care, pay, education, jobs, and so forth.

    Merry Christmas president Weah! What a wonderful blessing to be president of Liberia at this time where you preside over the biggest looting of its national treasury since its founding, and you get by with impunity.

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